Investors lose millions every year to risky investments and fraudulent scams, and the problem is getting worse as more people manage their own retirement savings. BBB has partnered with the FINRA Investor Education Foundation, part of the Financial Industry Regulatory Authority, to help combat investment fraud and through the BBB Smart Investing program. … Continue Reading
Jasmine Jamrus-Kassim, a former independent insurance agent who sold annuities for Bankers Life and Casualty Co was sentenced to more than six years in prison for stealing more than $1 million from her elderly clients. Jamrus-Kassim was arrested in March 2011 after an investigation by Washington Insurance Commissioner Mike Kreidler’s special investigations unit found that she had taken $1.05 million from five clients. … Continue Reading
Minor Vargas Calvo, 60, who was president of Provident Capital Indemnity Ltd. was convicted by a federal jury in Virginia. Calvo, a former Costa Rican insurance executive was convicted of all counts in a $485 million fraud scheme in which he was accused of lying to clients and investors about the financial stability of his company.
Calvo and Provident sold bonds guaranteeing funding for … Continue Reading
In response to National Fraud Awareness Week it’s important to bring attention to the biggest and worst investment fraud of all: the Ponzi Scheme.
Wikipedia defines a Ponzi scheme as fraudulent investment operation that pays returns to its investors from their own money or the money paid by subsequent investors, rather than from profit earned by the individual or organization running the operation.
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Before you invest your earnings, it is important to check for scams and verify credibility of the investment firm. Asking questions, research the company, reach out to local investment firms and advisers, talk to other investors. It’s essential to take precaution with all investment opportunities.
Studies show that investment scams are on the rise over the past decade. Baby boomers in particularly are more vulnerable to such schemes, as many are now managing their own retirement account. … Continue Reading
The powerful attack on the Internet last week raised many questions — who did it? how did it happen? and could it happen again? Some of those answers are still unknown and could be for awhile. But what is known is that the Internet attack involved millions and millions of computers around the world. And we’re learning that not all of the computers involved are those of companies — some of the computers used, as well as other devices, are ones in people’s homes.
Nicole Perlroth outlined these disturbing facts in a recent New York Times article (see, “Devices Like Cable Boxes Figured in Internet Attack”; page B1, March 30th). … Continue Reading
The BBB is dedicated to fostering honest and responsive relationships between businesses and consumers in the U.S. and Canada, instilling consumer confidence and contributing to a trustworthy marketplace for all. … Continue Reading
There’s an old saying: “There’s no such thing as bad PR.” Well, it’s not true, at least where healthcare is concerned. While starlets and bloggers may thrive on scandal and controversy, consumers look to their healthcare providers for reliable, quality care and privacy. … Continue Reading
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by Robin Slade
The Boston and Texas tragedies remind us that when disaster strikes, we are not always prepared to deal with the magnitude of the chaotic wake that follows such events in our communities … Continue Reading